Summit Midstream Corporation (SMC) — Stock Correlations & Overview
Over the past year, SMC has moved most closely with AMUB, NDIV, MLPB. Explore the stocks most correlated and inversely correlated with SMC below, along with its price, financials, and company profile.
Stocks correlated with SMC
Correlation of daily returns. Higher positive values move with SMC; negative values move opposite it. Informational only, not investment advice.
Most correlated with SMC
| Symbol | Company | Correlation |
|---|---|---|
| AMUB | ETRACS Alerian MLP Index ETN Series B due July 18, 2042 | 0.42 |
| NDIV | Amplify Energy & Natural Resources Covered Call ETF | 0.42 |
| MLPB | ETRACS Alerian MLP Infrastructure Index ETN Series B due April 2, 2040 | 0.42 |
| PSCE | Invesco S&P SmallCap Energy ETFINVESTMENT ADVICE | 0.41 |
| GRNT | Granite Ridge Resources, Inc.CRUDE PETROLEUM & NATURAL GAS | 0.41 |
Most inversely correlated with SMC
| Symbol | Company | Correlation |
|---|---|---|
| DRIP | Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF | -0.38 |
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.36 |
| ERY | Direxion Daily Energy Bear 2X ETF | -0.35 |
| DUG | ProShares UltraShort Energy | -0.35 |
| WTID | MicroSectors Energy -3x Inverse Leveraged ETNsCOMMERCIAL BANKS, NEC | -0.34 |
Frequently asked questions about SMC correlations
- Which stocks are most correlated with SMC?
- Based on one year of daily returns, the stocks most correlated with Summit Midstream Corporation (SMC) are AMUB (0.42), NDIV (0.42) and MLPB (0.42). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with SMC?
- Over the past year, the stocks most inversely correlated with Summit Midstream Corporation (SMC) are DRIP (-0.38), OILD (-0.36) and ERY (-0.35). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these SMC correlations calculated?
- We compute the correlation of daily returns between SMC and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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